Sia - a highly efficient decentralized storage platform

[lafona]

The synergy I would see would be to allow all users that have a bitshares wallet (hopefully many in the future) to buy storagespace with your application. But no idea how to realize that technically...

The first question is: if we encrypt the wallet with the brain key but the user has their brain key compromised, can we still keep the wallet on Sia safe?

Not an easy question but an answer could seal the deal.

If it helps, it sounds like their new wallets use a seed phrase too. Not sure if they could be compatible.

Feature: Wallets are now generated and encrypted using a seed phrase. So even if you lose your wallet file, you just need the phrase to recover it.

Description from release page on their github.

[lafona]

From what I understand, the siacoins are not meant as an investment. For investing purposes I think the siafunds would be what one should look at. These entitle the owner to a percentage of the renting fees in the network. My understanding is that the company nebulous would be profitable by owning the funds and not as much from appreciation of the currency. I think from that standpoint inflation is not as much of a concern. I'm curious if this could lead to less volitality though if less people are hoarding coins due to high inflation. Not sure if storj or maidsafe have something like the funds.

[puppies]

how are they different compared to storj & maidsafe?

I too would really appreciate an explanation.

[Akado]

What sort of collaboration would you be looking for? I think there's opportunity here.

 

[liondani]

how are they different compared to storj & maidsafe?

[puppies]

I have played with sia a bit.  Can upload and download files to the cloud.  I even set up a vpn to rent out some storage, but no one has used it yet.  Renting space is still super cheap.  Like not even close to profitable at this point.  Hopefully adoption could improve that.

On the other hand at 20 satoshis they are inflating at around $1800 a day, and I don't know if that is sustainable.  I think they would have been better served with a PoS variant.  If they needed rng they could have used DPOS, and secured the network for much much less. 

Their daemon and wallets are functional, but lacking lots of features.  Documentation also seems to be rather sparse.  I am a terrible day trader, so take this with a grain of salt, but I don't see their price going up with this low network hash rate and high inflation.  Still really interesting technology.  I'd love to see something like this built into BTS.  Perhaps even a full fledged DPOS side chain.

[jamesc]

The synergy I would see would be to allow all users that have a bitshares wallet (hopefully many in the future) to buy storagespace with your application. But no idea how to realize that technically...

The first question is: if we encrypt the wallet with the brain key but the user has their brain key compromised, can we still keep the wallet on Sia safe?

Not an easy question but an answer could seal the deal.

[liondani]

comparison with maidsafe & storj?

[santaclause102]

The synergy I would see would be to allow all users that have a bitshares wallet (hopefully many in the future) to buy storagespace with your application. But no idea how to realize that technically...

[Tuck Fheman]

@Taek Are you guys looking into automated transactions?

If so, please contact Vrontis or @vbcs (CIYAM) with Qora for possible collaboration.

EDIT : Or ... "Sia is completely open source, and you can use the API without getting explicit permission or paying any royalties or licensing fees.", perhaps that's not necessary.

[Tobo]

SIA is on Poloniex now - https://poloniex.com/exchange#btc_sc

Cheers!

[Tobo]

What's your Big O efficiency in terms of request and delivery of chunks?

I also got more answer from a dev for you:

"chunks" (currently entire files) are indexed by file contract ID; this mapping is stored in a hash table, so lookup efficiency should be O(1). During transfer, the data is decrypted and its Merkle root is calculated; IIRC these operations are both O(n). Finally, I believe reconstructing the erasure-coded chunks is slightly worse than O(n), but I don't have an exact figure. We are, however, using this library: https://github.com/klauspost/reedsolomon which claims >1GB/s throughput, and our local tests have confirmed this. In short, Sia's algorithms do not add significant overhead to download speed. Far more relevant are 1) your download bandwidth and 2) the combined upload bandwidth of the file's hosts.

GitHub
klauspost/reedsolomon
reedsolomon - Reed-Solomon Erasure Coding in Go

If you want discuss more and know more about Sia, Sia slack is better place. You are welcome to sign up on the Sia slack - https://siatalk-slackin.herokuapp.com

[Taek]

What's your Big O efficiency in terms of request and delivery of chunks?

I'm not sure what you mean by that, but I think the answer is 'linear in the size of the data'. A 1GB file will take ~10x as long to download as a 100mb file. The bottleneck right now is generally uploader bandwidth, however after the next release it's much more likely to be your own bandwidth. In terms of memory it's constant size, something like 50mb of RAM to do the download process (regardless of file size). Disk space is just the size of the file you are downloading. CPU usage is a more complicated question, but it boils down to "so fast you don't need to worry about it unless you've got a 10 gbps connection piped straight to a single processor and a high end SSD to match".

[VoR0220]

What's your Big O efficiency in terms of request and delivery of chunks?

[Tobo]

Current Sia's storage limit is 500MB. In the next release (in the mid of August) the limit will increase to 5GB (enough for a dvd) and the upload stability will get much better as well.

As the dev mentioned "So far, out of ~1200 files that have been online for ~8 weeks, not a single file has been lost. This is even without the stability and renewing code which we will be introducing in a few weeks."

[Tobo]

Sia new client v.0.4.0 is expected to be released in the mid of August. This new client will make dramatic improvement.

[Taek]

@fav

I just sent you a little. Should be enough for a little more than 500 MB. Storage is very affordable right now

thank you! it just works...

Sia would be another great collaboration.

Dev here. Why do I need to do captcha after making an account? Seems overly strict.

What sort of collaboration would you be looking for? I think there's opportunity here.

[fav]

@fav

I just sent you a little. Should be enough for a little more than 500 MB. Storage is very affordable right now

thank you! it just works...

Sia would be another great collaboration.

[lafona]

@fav

I just sent you a little. Should be enough for a little more than 500 MB. Storage is very affordable right now

[Tobo]

testing the wallet now.
here's my address if you got some small amounts for me to play with 393c5fa7f445cc938172f70f8eba3ee2c90049aea7240b5c86a603f9e8c9d24df1048c7ab616
edit: how do you mine in windows?

I think someone will help you on window mining here - https://bitcointalk.org/index.php?topic=1060294.1540

[fav]

testing the wallet now.

here's my address if you got some small amounts for me to play with 393c5fa7f445cc938172f70f8eba3ee2c90049aea7240b5c86a603f9e8c9d24df1048c7ab616

edit: how do you mine in windows?

[Tobo]

Indeed, there are many opportunities in Sia. You can mine Siacoins, renting out storage space to earn Siacoins, and use Sia platform to cheaply store and backup your stuff. You also can build business on Sia. Sia is the first of its kind in production.

[jsidhu]

 

[Tobo]

You can get an auto invite and sing up in Sia slack here - https://siatalk-slackin.herokuapp.com
There are more activities on the slack.

[Tobo]

Siacoin is a highly efficient decentralized storage platform
http://blog.siacoin.com/2015/07/08/the-dream-of-sia/
https://bitcointalk.org/index.php?topic=1060294.0